Price analysis 1/14: BTC, ETH, BNB, SOL, ADA, XRP, LUNA, DOT, AVAX, DOGE

Bitcoin
(BTC)
and
most
major
altcoins
are
facing
selling
at
higher
levels
and
buying
on
dips,
indicating
the
possibility
of
a
range
formation.
On-chain
analysis
firm
Whalemap
said
that
a
“reclaim
of
$46,500
will
look
like
a
trend
reversal,”
for
Bitcoin
as
the

previous
accumulation
phase
of
90,000
BTC
 was
at
this
level.

Fidelity
Digital
Assets
said
in
its
annual
report
that
the
“massive

Bitcoin

accumulation
by
Bitcoin
miners

suggests
that
the
“Bitcoin
cycle
is
far
from
over.”
The
report
went
on
to
add
that
more
sovereign
nations
may
“acquire
Bitcoin
in
2022
and
perhaps
even
see
a
central
bank
make
an
acquisition.”


Daily
cryptocurrency
market
performance.
Source:



Coin360

Switzerland-based
financial
institution
SEBA
Bank
CEO
Guido
Buehler
said
in
a
recent
interview
that
if
the
right
counterparties
and
necessary
regulations
are
in
place,
asset
pools
at
SEBA
may
invest
in
Bitcoin
at
the
right
time.
Buehler

portrayed
a
bullish
picture
for
Bitcoin
,
saying
a
rally
to
$75,000
was
possible.

Will
Bitcoin
and
most
major
altcoins
remain
range-bound
in
the
short
term?
Let’s
study
the
charts
of
the
top
10
cryptocurrencies
to
find
out.

BTC/USDT

Bitcoin
turned
down
from
the
20-day
exponential
moving
average
(EMA)
($44,681)
on
Jan.
13,
indicating
that
bears
continue
to
sell
on
rallies.
The
bears
will
now
attempt
to
pull
the
price
back
to
the
strong
support
at
$39,600.


BTC/USDT
daily
chart.
Source:
TradingView

Both
moving
averages
are
sloping
down
and
the
relative
strength
index
(RSI)
is
in
negative
territory,
indicating
that
the
path
of
least
resistance
is
to
the
downside.
If
sellers
sink
and
sustain
the
price
below
$39,600,
the
BTC/USDT
pair
could
extend
the
decline
to
$30,000.

However,
the
bulls
are
unlikely
to
give
up
easily
at
$39,600.
A
strong
rebound
off
the
current
level
or
from
$39,600
will
suggest
accumulation
at
lower
levels.
The
pair
could
then
remain
range-bound
between
$39,600
and
$45,456
for
a
few
days.

A
break
and
close
above
$45,456
will
be
the
first
indication
that
the
correction
may
be
over.
The
pair
could
then
start
its
northward
march
toward
$52,088.

ETH/USDT

Ether’s
(ETH)
rebound
off
the
support
line
of
the
descending
channel
on
Jan.
10
could
not
even
reach
the
20-day
EMA
($3,485)
which
suggests
that
demand
dries
up
at
higher
levels.


ETH/USDT
daily
chart.
Source:
TradingView

The
moving
averages
are
sloping
down
and
the
RSI
is
below
40,
suggesting
that
bears
are
in
control.
The
sellers
will
now
try
to
pull
the
price
to
the
zone
between
the
psychological
level
at
$3,000
and
the
support
line
of
the
channel.
A
break
and
close
below
$2,652
will
signal
the
start
of
the
next
leg
of
the
downtrend.

On
the
contrary,
if
the
price
turns
up
from
the
current
level,
the
bulls
will
make
one
more
attempt
to
push
the
ETH/USDT
pair
above
the
20-day
EMA.
If
they
succeed,
the
pair
could
rise
to
the
resistance
line
of
the
channel
and
later
to
the
50-day
simple
moving
average
(SMA)
($3,893).
The
bulls
will
have
to
push
and
sustain
the
price
above
this
level
to
signal
that
the
downtrend
could
be
over.

BNB/USDT

Binance
Coin
(BNB)
is
facing
strong
resistance
at
the
20-day
EMA
($487)
but
a
minor
positive
is
that
the
bulls
have
not
given
up
much
ground.
This
suggests
that
traders
are
not
rushing
to
the
exit.


BNB/USDT
daily
chart.
Source:
TradingView

If
the
price
breaks
above
the
20-day
EMA,
the
bulls
will
try
to
clear
the
overhead
hurdle
at
the
downtrend
line.
If
they
can
pull
it
off,
the
BNB/USDT
pair
will
signal
a
possible
change
in
trend.
The
pair
could
then
attempt
a
rally
to
$617.

Conversely,
if
the
price
turns
down
from
the
20-day
EMA
or
the
downtrend
line,
it
will
suggest
that
bears
are
selling
on
rallies.
That
could
keep
the
pair
stuck
inside
the
channel
for
a
few
more
days.

SOL/USDT

Solana
(SOL)
reached
the
20-day
EMA
($157)
on
Jan.
13
but
the
bulls
could
not
clear
this
overhead
hurdle.
This
suggests
that
the
bears
have
not
yet
given
up
and
are
selling
on
rallies.


SOL/USDT
daily
chart.
Source:
TradingView

The
bears
will
now
attempt
to
resume
the
downtrend
by
pulling
the
price
below
the
support
at
$130.
If
they
do
that,
the
SOL/USDT
pair
could
decline
to
the
next
important
support
at
$116.

The
downsloping
moving
averages
and
the
RSI
in
the
negative
territory
indicate
that
the
path
of
least
resistance
is
to
the
downside.

Contrary
to
this
assumption,
if
the
price
rises
above
the
20-day
EMA,
the
pair
could
rally
to
the
resistance
line
of
the
channel.
The
bulls
will
have
to
push
the
pair
above
the
channel
to
signal
a
possible
change
in
trend.

ADA/USDT

Cardano
(ADA)
turned
down
from
the
50-day
SMA
($1.35)
on
Jan.
13
but
the
bulls
did
not
allow
the
price
to
break
below
the
$1.18
support.
This
suggests
that
bulls
are
buying
on
dips.


ADA/USDT
daily
chart.
Source:
TradingView

The
bulls
will
now
attempt
to
push
and
sustain
the
price
above
the
50-day
SMA.
If
they
manage
to
do
that,
the
ADA/USDT
pair
could
rally
to
the
resistance
line
of
the
descending
channel.
A
break
and
close
above
the
channel
could
indicate
that
the
downtrend
has
ended.

Alternatively,
if
the
price
turns
down
from
the
50-day
SMA,
it
will
suggest
that
bears
continue
to
sell
on
rallies.
The
sellers
will
then
try
to
sink
the
pair
below
$1.18
and
pull
the
price
to
the
critical
support
at
$1.

XRP/USDT

Ripple
(XRP)
turned
down
from
the
20-day
EMA
($0.80)
on
Jan.
13
but
a
minor
positive
is
that
bulls
did
not
allow
the
price
to
dip
below
the
support
at
$0.75.
This
indicates
accumulation
at
lower
levels.


XRP/USDT
daily
chart.
Source:
TradingView

If
bulls
drive
the
price
above
the
moving
averages,
it
will
suggest
that
the
bears
may
be
losing
their
grip.
The
XRP/USDT
pair
could
then
rise
to
the
overhead
resistance
at
$1.

If
the
price
turns
down
from
this
level,
the
pair
could
remain
range-bound
between
$1
and
$0.75
for
a
few
more
days.
A
break
and
close
above
$1
will
signal
the
start
of
an
up-move
toward
$1.41.

Conversely,
if
the
price
turns
down
from
the
20-day
EMA,
the
bears
will
attempt
to
pull
the
pair
below
the
$0.75
to
$0.69
support
zone
and
resume
the
downtrend
to
$0.60.

LUNA/USDT

Terra’s

LUNA

token
broke
and
closed
above
the
resistance
line
of
the
channel
on
Jan.
12.
The
bears
tried
to
pull
the
price
below
the
20-day
EMA
($78.61)
on
Jan.
13
but
failed.
This
indicates
that
bulls
are
defending
the
support
aggressively.


LUNA/USDT
daily
chart.
Source:
TradingView

The
buyers
are
currently
attempting
to
push
and
sustain
the
price
above
the
channel
and
the
overhead
resistance
at
$83.86.
If
they
manage
to
do
that,
the
LUNA/USDT
pair
could
rally
to
$93.81.

The
20-day
EMA
is
trying
to
turn
up
and
the
RSI
has
risen
into
the
positive
territory,
indicating
that
buyers
are
attempting
a
comeback.

This
positive
view
will
invalidate
if
the
price
turns
down
from
the
current
level
and
breaks
below
the
moving
averages.
That
could
pull
the
price
down
to
the
support
line
of
the
channel.



Related:




Bitcoin
dips
below
$42K
as
new
forecast
says
breakout
‘most
probable
outcome’
for
BTC
price

DOT/USDT

Polkadot
(DOT)
turned
down
from
the
20-day
EMA
($26.81)
on
Jan.
13
but
the
positive
sign
is
that
the
bulls
did
not
give
up
much
ground.
This
indicates
that
bulls
are
viewing
the
dips
as
a
buying
opportunity.


DOT/USDT
daily
chart.
Source:
TradingView

The
bulls
are
currently
trying
to
sustain
the
price
above
the
moving
averages.
If
they
do
that,
the
DOT/USDT
pair
could
rise
to
the
overhead
resistance
at
$32.78.
The
flat
20-day
EMA
and
the
RSI
near
the
midpoint
suggest
a
balance
between
supply
and
demand.

If
the
price
turns
down
from
$32.78,
the
pair
may
extend
its
stay
inside
the
range
for
a
few
more
days.
The
next
trending
move
may
start
on
a
break
and
close
above
the
overhead
resistance
at
$32.78
or
on
a
break
below
the
support
at
$22.66.

AVAX/USDT

Avalanche
(AVAX)
turned
down
from
the
20-day
EMA
($96)
on
Jan.
13,
indicating
that
bears
continue
to
sell
on
rallies.
The
price
has
dipped
back
to
the
uptrend
line
of
the
symmetrical
triangle,
which
could
act
as
a
support.


AVAX/USDT
daily
chart.
Source:
TradingView

If
the
price
rebounds
off
the
current
level,
the
buyers
will
again
attempt
to
propel
the
price
above
the
moving
averages.
If
they
succeed,
the
AVAX/USDT
pair
could
rally
to
the
downtrend
line
of
the
triangle.

A
break
and
close
above
the
triangle
will
suggest
that
the
correction
could
be
over.
The
pair
may
then
rise
to
$128.

Contrary
to
this
assumption,
if
the
price
slips
below
the
uptrend
line
of
the
channel,
the
pair
may
retest
the
critical
level
at
$75.50.
If
this
support
cracks,
the
pair
could
start
a
decline
toward
$57
and
then
$50.

DOGE/USDT

Dogecoin
(DOGE)
broke
and
closed
above
the
20-day
EMA
($0.16)
on
Jan.
13,
which
was
the
first
indication
that
the
selling
pressure
may
be
reducing.
That
was
followed
by
another
sharp
move
on
Jan.
14,
which
pushed
the
price
above
the
stiff
overhead
resistance
at
$0.19.


DOGE/USDT
daily
chart.
Source:
TradingView

However,
the
long
wick
on
Jan.
14’s
candlestick
suggests
that
bears
continue
to
sell
at
higher
levels.
If
the
price
sustains
below
$0.19,
the
DOGE/USDT
pair
could
drop
to
the
moving
averages
and
extend
its
range-bound
action
for
a
few
more
days.

Conversely,
if
the
price
sustains
above
$0.19,
the
bulls
will
make
one
more
attempt
to
clear
the
overhead
resistance
zone
at
$0.22
to
$0.24.
If
they
manage
to
do
that,
the
pair
could
rally
toward
$0.30.


The
views
and
opinions
expressed
here
are
solely
those
of
the
author
and
do
not
necessarily
reflect
the
views
of
Cointelegraph.
Every
investment
and
trading
move
involves
risk.
You
should
conduct
your
own
research
when
making
a
decision.


Market
data
is
provided
by



HitBTC


exchange.

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